AMS:AGN 5 March 2026

Lloyds Banking Group plc leads race for Aegon UK business as wealth push accelerates, report says
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Lloyds Banking Group plc leads race for Aegon UK business as wealth push accelerates, report says

Lloyds Banking Group plc is now leading the chase for Aegon’s UK arm, according to Financial News on Wednesday, though Phoenix and Canada Life remain contenders. The deal could fetch between 1 billion and 1.5 billion pounds, per the report. Final offers are due next month, and a decision could land in April. Timing’s a factor here. British banks are stepping up their focus on savings, pensions, and financial advice—areas that generate fee income, not just interest from loans—as the prospect of lower rates looms and lending profits face pressure. Last month, NatWest struck a £2.7 billion deal for Evelyn Partners, with Benjamin Toms at RBC Capital Markets describing the acquisition as “transformational”.
March 6, 2026
Lloyds tipped as front-runner for Aegon UK business as bidders circle
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Lloyds tipped as front-runner for Aegon UK business as bidders circle

Lloyds Banking Group plc has emerged as the frontrunner after the opening bids for Aegon’s UK arm, according to Financial News, which cited sources close to the talks. Both Phoenix Group and Canada Life have submitted initial proposals too. The business could fetch anywhere from 1 billion to 1.5 billion pounds. Final bids are expected next month, with a decision likely by April. Goldman Sachs and JPMorgan are on advisory duty. The prospective buyers declined to comment, Financial News noted. The shift is significant—banks are chasing more fee revenue from wealth and pensions, with the tailwind from rising interest rates starting to dissipate. Back in February, NatWest signed off on a £2.7 billion purchase of Evelyn Partners. RBC Capital Markets
March 5, 2026